Opaleye Management Inc. Acquires New Stake in Hemab Therapeutics Holdings, Inc. $COAG

Opaleye Management Inc. acquired a new stake in Hemab Therapeutics Holdings, Inc. (NASDAQ:COAG) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 47,652 shares of the company’s stock, valued at approximately $1,750,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Braidwell LP purchased a new stake in shares of Hemab Therapeutics during the second quarter valued at $5,877,000. Citadel Advisors LLC bought a new stake in Hemab Therapeutics during the 2nd quarter valued at about $19,226,000. Squarepoint Ops LLC purchased a new stake in Hemab Therapeutics in the 2nd quarter valued at about $230,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Hemab Therapeutics in the 2nd quarter valued at about $688,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COAG. Jefferies Financial Group raised their target price on shares of Hemab Therapeutics from $39.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. HC Wainwright increased their price objective on Hemab Therapeutics from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wedbush raised their price objective on Hemab Therapeutics from $55.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Zacks Research raised Hemab Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings assumed coverage on Hemab Therapeutics in a report on Thursday, August 13th. They issued a “sell (d+)” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Hemab Therapeutics Price Performance

COAG opened at $39.88 on Friday. The company has a 50-day moving average of $45.96. Hemab Therapeutics Holdings, Inc. has a 1 year low of $23.00 and a 1 year high of $55.42. The stock has a market capitalization of $1.86 billion and a price-to-earnings ratio of -1.61.

Hemab Therapeutics (NASDAQ:COAG) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.17). As a group, research analysts predict that Hemab Therapeutics Holdings, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Ra Capital Management, L.P. acquired 61,523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of $24.98 per share, with a total value of $1,536,844.54. Following the transaction, the insider directly owned 6,444,637 shares of the company’s stock, valued at $160,987,032.26. This trade represents a 0.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hemab Therapeutics Profile

Hemab Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for people with serious bleeding and thrombotic disorders. The company’s research is centered on treatments designed to address diseases of the blood and coagulation system, with the goal of improving outcomes for patients who may not be adequately served by existing options.

Hemab’s pipeline includes drug candidates aimed at rare hematologic conditions, including factor XI-related approaches and other programs in inherited bleeding disorders.